Earned 4 million dollars in two months, revealing James Wynn's "Hedge Trumpet"

Author: @dethective, On-chain Detective

Compiled by: Ismay, BlockBeats

This article reveals the meticulously orchestrated hedging operations behind James Wynn's "loser persona" KOL through on-chain data and account behavior analysis: on the surface, he appears to be liquidating and losing, but in reality, he is profiting in secret. In the crypto world, identities and funds can often be easily hidden, but transaction records do not lie.

Here is the original content:

I found the Hyperliquid account used by James Wynn, where he has been betting against himself.

Going long on Bitcoin

Going short on Bitcoin

This has been suspected for a while, and now I have solid evidence.

How did I find this wallet?

I noticed that James earned $44,000 through referral commissions; among them, $16,000 came from a single wallet; this wallet has a trading volume of up to $1 billion;

More importantly, this wallet was registered before James started sharing the referral link.

Coincidence?

Upon further analysis of the trading situation, these two wallets traded almost the same set of tokens.

Another coincidence?

Next, let's analyze Bitcoin trading in depth. As everyone knows, he became famous through a series of crazy Bitcoin trades.

I marked the trades of the two accounts on the chart:

Trades representing the hidden account

Trades representing the public account

You can see that they are always on opposing sides.

On that hidden account, he is making money; indeed, this account has no liquidation records.

Currently, the paper profit is as high as $4.2 million.

Current position: he is currently going long on ETH with 25x leverage.

Interestingly, this operation is almost identical to the trades of his friend Andrew Tate.

As everyone has long suspected, he actually hasn't lost much money, and now we finally have evidence. But the problem is—his "tragic loss persona" has become a very effective marketing tool.

Now he has:

370,000 followers

2,360 "smart fans" (please, stop following him)

Yaps that he will never earn

All of this has given him enough "credibility" to promote his meme coin, sell courses, and find every possible way to continue monetizing.

Whenever such things go viral online, I always see the same comment:

"Didn't he lose $90 million and is now only making $4 million?"

Let me explain:

He did not lose $90 million. That was just an unrealized gain he reached at one point during trading, not actual cash in hand.

While his main account shows a profit of $90 million, other accounts are actually losing money (this is the basic principle of hedging).

That's right, the scale of hedging positions may not be exactly the same, and I agree with that.

If he placed this order on Hyperliquid, he likely also made the same operation on other platforms (like Binance, where he often transfers funds).

He became famous because everyone saw that exaggerated "$90 million" figure and believed it just by reading the headline.

If we use "maximum unrealized gain" to judge a trade, then frankly, almost everyone has "lost" millions at some point.

Seeing those with strong backgrounds and ample experience easily fall for such emotional marketing only shows that—this trick really works.